Nemes Rush Group LLC Acquires Shares of 319,503 Viper Energy Inc. $VNOM

Nemes Rush Group LLC bought a new position in Viper Energy Inc. (NASDAQ:VNOM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 319,503 shares of the oil and gas producer’s stock, valued at approximately $12,183,000. Viper Energy comprises approximately 1.3% of Nemes Rush Group LLC’s holdings, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VNOM. Swiss National Bank raised its holdings in Viper Energy by 22.1% in the 1st quarter. Swiss National Bank now owns 247,177 shares of the oil and gas producer’s stock worth $11,160,000 after acquiring an additional 44,700 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Viper Energy by 28.9% in the 1st quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer’s stock worth $587,708,000 after purchasing an additional 2,921,832 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Viper Energy by 190.7% in the 1st quarter. Jump Financial LLC now owns 93,000 shares of the oil and gas producer’s stock worth $4,199,000 after purchasing an additional 61,005 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Viper Energy by 3.9% in the second quarter. Public Employees Retirement System of Ohio now owns 41,242 shares of the oil and gas producer’s stock worth $1,573,000 after purchasing an additional 1,532 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Viper Energy during the first quarter valued at $316,000. Institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VNOM shares. Barclays increased their price objective on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Jefferies Financial Group started coverage on shares of Viper Energy in a research note on Thursday, October 23rd. They set a “hold” rating and a $38.00 target price on the stock. William Blair initiated coverage on shares of Viper Energy in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Morgan Stanley decreased their price objective on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.13.

Viper Energy Trading Up 0.4%

Shares of NASDAQ:VNOM opened at $35.99 on Friday. The stock’s 50-day simple moving average is $37.55 and its two-hundred day simple moving average is $38.57. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 16.00 and a beta of 0.89. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.15 and a current ratio of 1.88.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million during the quarter, compared to analyst estimates of $389.35 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 98.1% compared to the same quarter last year. Analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, November 13th. Viper Energy’s dividend payout ratio (DPR) is currently 54.55%.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.